FIRST HORIZON CORP

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 2, 2024

FHN$23.56+0.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income (unaudited)

PART I, ITEM 1. FINANCIAL STATEMENTS

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended June 30,		Six Months Ended June 30,
(Dollars in millions, except per share data; shares in thousands) (Unaudited)	2024	2023	2024	2023
Interest income
Interest and fees on loans and leases	$975	$877	$1,927	$1,683
Interest and fees on loans held for sale	9	14	17	24
Interest on investment securities	59	63	119	125
Interest on trading securities	21	18	42	38
Interest on other earning assets	29	43	60	64
Total interest income	1,093	1,015	2,165	1,934
Interest expense
Interest on deposits	399	265	797	436
Interest on trading liabilities	7	2	12	5
Interest on short-term borrowings	41	99	70	136
Interest on term borrowings	17	19	33	39
Total interest expense	464	385	912	616
Net interest income	629	630	1,253	1,318
Provision for credit losses	55	50	105	100
Net interest income after provision for credit losses	574	580	1,148	1,218
Noninterest income
Deposit transactions and cash management	44	45	88	87
Fixed income	40	30	92	69
Brokerage, management fees and commissions	25	22	49	44
Card and digital banking fees	20	21	38	40
Other service charges and fees	14	14	27	27
Trust services and investment management	12	12	24	24
Mortgage banking income	10	6	19	11
Gain on merger termination	—	225	—	225
Securities gains (losses), net	1	—	1	1
Other income	20	25	43	43
Total noninterest income	186	400	381	571
Noninterest expense
Personnel expense	279	285	580	556
Net occupancy expense	31	30	62	61
Computer software	29	28	59	55
Operations services	23	22	45	44
Legal and professional fees	18	12	33	20
Deposit insurance expense	16	13	40	26
Contract employment and outsourcing	14	12	28	24
Advertising and public relations	14	17	22	31
Amortization of intangible assets	11	12	22	24
Equipment expense	11	10	22	21
Communications and delivery	8	9	16	18
Contributions	1	53	2	57
Other expense	45	52	84	96
Total noninterest expense	500	555	1,015	1,033
Income before income taxes	260	425	514	756
Income tax expense	56	96	113	171
Net income	$204	$329	$401	$585
Net income attributable to noncontrolling interest	5	4	10	9
Net income attributable to controlling interest	$199	$325	$391	$576
Preferred stock dividends	15	8	23	16
Net income available to common shareholders	$184	$317	$368	$560

7	2Q24 FORM 10-Q REPORT

PART I, ITEM 1. FINANCIAL STATEMENTS

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME (continued)
Basic earnings per common share	$0.34	$0.59	$0.67	$1.04
Diluted earnings per common share	$0.34	$0.56	$0.67	$1.00
Weighted average common shares	543,981	539,120	549,479	538,035
Diluted average common shares	547,093	560,878	552,539	562,188

8	2Q24 FORM 10-Q REPORT

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.